Bank technology firm Fundtech is targeting small and mid-sized banks with a lower-cost version of its cash-management system, it announced today.

The Jersey City firm's new hosted version of Global CASHplus, called GCP On-Demand, is intended for banks in the small- and mid-tier that are looking for a treasury-management system with lower hardware, installation, and maintenance costs. The company also thinks it could be a solution for multinational banks entering new markets.

The product has a modular design that, Fundtech says, offers banks flexibility to add custom features. The company expects to see demand from the Asian market.

"This new initiative was developed in response to direct feedback provided by our customers and we are already seeing a great interest for the solution in India and other countries in Asia," said Fundtech executive vice president for global cash management Sanjay Dalmia in the news release.

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